Automotive

Negotiated lease payment - am I missing something?

  • Last Updated:
  • Oct 22nd, 2017 2:54 pm
[OP]
Jr. Member
Feb 26, 2013
192 posts
108 upvotes
Guelph

Negotiated lease payment - am I missing something?

Hi,

I recently negotiated a lease for a 2017 q60 red sport. I was looking to lease for 36 months with 24,000km.

I was quoted $875/month with $0 down. Seemed like a great deal to me.

My area tax is 13%

I was quoted a similar price from other dealerships, but with at least $3000 down.

Can I get feedback? Is this a hot deal?
4 replies
Deal Addict
User avatar
Jul 5, 2011
1416 posts
1166 upvotes
Toronto
Things you need to determine if your lease payment is a "good deal":

Payment + Taxes
Rate / Term
Lease end value
Total number of KM / year
Amount payable on delivery

It's easy to get tricked into paying something like freight and PDI on delivery when it's the exact same as putting cash down.

If you have all of the above and can compare dealer to dealer you'll be all set. It's even easier if you just work the cash price and apply that price to whatever lease or finance terms you like.
2013 Wins - $1320 - Woohoo!
Member
Aug 18, 2017
258 posts
131 upvotes
Missing some info here. Which package of red sport? Base/premium?


If 875 is tax in with 0 down then yes it seems very good on a premium q60 red sport.


If it's plus HST it's still a very fair deal. Does this vehicle have kms on it? Can you check if it's been rdr'd (warranty started at an earlier date). It's possible to be rdr'd and still have no kms.
[OP]
Jr. Member
Feb 26, 2013
192 posts
108 upvotes
Guelph
NathanT039266 wrote: Missing some info here. Which package of red sport? Base/premium?


If 875 is tax in with 0 down then yes it seems very good on a premium q60 red sport.


If it's plus HST it's still a very fair deal. Does this vehicle have kms on it? Can you check if it's been rdr'd (warranty started at an earlier date). It's possible to be rdr'd and still have no kms.
This quote was for the base Q60 red sport. I was quoted something like $920 for the tech package, $875 without. These are both including taxes/fees and with $0 down.

This would be new with no km on it.

I'm inclined to go without tech package. Doesn't seem to add anything I'd be really interested in, other than the interior colour.
Member
Aug 18, 2017
258 posts
131 upvotes
For this months promos it's a good deal then.


Personally a great deal in general is 1 percent of msrp as a payment for a lease. This wouldn't do too well in that test, mainly because this is the first model year of the car. I'm not an expert in coupe leases but I do know I passed on a 340i msport2 for 650 a month on a 4 yr lease and a q50 red sport 2017 for $675 on a 2 year lease. Admittedly the q60 has a way cooler look to it then those two sedans.

If $875 is affordable and you don't want to risk losing the deal then I'd say go for it. there's a 50/50 that in december-ish there could be high cash incentives that may give you a better standard rate lease payment. Again that's a maybe as it'll depend on stock levels as 2018 q60s start to show up. If q60 red sport stock is low now, that probably won't happen.


Edit: a 440i m power x drive is roughly the same payment. So you'd be trading off the q60s style for better driving dynamics and I guess a better brand.

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